CBSE 12th Board Exams 2024: Economics syllabus has 8 units; marking scheme

    CBSE Board Exams 2024: Know unit-wise topics and marks allotted in economics syllabus.

     The Central Board of Secondary Education will conduct the Class 12 economics exam 2024 on March 18, 2024. CBSE Class 12 economics syllabus contains eight units this year. Students who are going to appear for the exam can check the subject-wise Class 12 syllabus 2023-24 on the official website, cbseacademic.nic.in.

    The duration of CBSE 12th board exam 2024 for economics will be three hours. The theory exam will carry 80 marks whereas the project work will carry 20 marks.

    CBSE Class 12 economics syllabus 2024 has been divided into two parts wherein part A and part B will carry 40 marks each.

    CBSE Board Exam 2024: Economics marking scheme

    The marks allotted to each unit in CBSE Class 12 syllabus 2024 are given below:


    Total marks

    Part A: Introductory macroeconomics

    Unit 1: National Income and Related Aggregates


    Unit 2: Money and Banking


    Unit 3: Determination of Income and Employment


    Unit 4: Government Budget and the Economy


    Unit 5: Balance of Payments


    Part B: Indian economic development

    Unit 6: Development Experience (1947-90) and Economic Reforms since 1991


    Unit 7: Current Challenges facing Indian Economy


    Unit 8: Development Experience of India – A Comparison with neighbours




    CBSE Class 12 Board Exam 2024: Economics syllabus

    Check part A and part B economics syllabus for CBSE Class 12 board exams 2024:

    Part A – Introductory Macroeconomics Syllabus


    Chapters and Topics

    Unit 1: National Income and Related Aggregates

    • What is Macroeconomics? Basic concepts in macroeconomics: consumption goods, capital goods, final goods, intermediate goods; stocks and flows; gross investment and depreciation.

    • Circular flow of income (two sector model); Methods of calculating National Income – Value Added or Product method, Expenditure method, Income method.

    • Aggregates related to National Income: Gross National Product (GNP), Net National Product (NNP), Gross Domestic Product (GDP) and Net Domestic Product (NDP) – at market price, at factor cost; Real and Nominal GDP.

    • GDP and Welfare

    Unit 2: Money and Banking

    • Money – meaning and functions, supply of money – Currency held by the public and net demand deposits held by commercial banks.

    • Money creation by the commercial banking system.

    • Central bank and its functions (example of the Reserve Bank of India): Bank of issue, Govt. Bank, Banker’s Bank, Control of Credit through Bank Rate, CRR, SLR, Repo Rate and Reverse Repo Rate, Open Market Operations, Margin requirement.

    Unit 3: Determination of Income and Employment

    • Aggregate demand and its components.

    • Propensity to consume and propensity to save (average and marginal).

    • Short-run equilibrium output; investment multiplier and its mechanism.

    • Meaning of full employment and involuntary unemployment.

    • Problems of excess demand and deficient demand; measures to correct them – changes in government spending, taxes and money supply.

    Unit 4: Government Budget and the Economy

    • Government budget – meaning, objectives and components.

    • Classification of receipts – revenue receipts and capital receipts; Classification of expenditure – revenue expenditure and capital expenditure.

    • Balanced, Surplus and Deficit Budget – measures of government deficit.

    Unit 5: Balance of Payments

    • Balance of payments account – meaning and components; Balance of payments – Surplus and Deficit Foreign exchange rate – meaning of fixed and flexible rates and managed floating. Determination of exchange rate in a free market, Merits and demerits of flexible and fixed exchange rate. Managed Floating exchange rate system

    Part B: Indian Economic Development

    Unit name

    Chapters and Topics

    Unit 6 – Development Experience (1947-90) and Economic Reforms since 1991

    • A brief introduction of the state of Indian economy on the eve of independence. Indian economic system and common goals of Five Year Plans.

    • Main features, problems and policies of agriculture (institutional aspects and new agricultural strategy), industry (IPR 1956; SSI – role & importance) and foreign trade.

    • Economic Reforms since 1991: Features and appraisals of liberalisation, globalisation and privatisation (LPG policy); Concepts of demonetization and GST

    Unit 7 – Current challenges facing Indian Economy

    • Human Capital Formation: How people become resource; Role of human capital in economic development; Growth of Education Sector in India.

    • Rural development: Key issues – credit and marketing – role of cooperatives; agricultural diversification; alternative farming – organic farming.

    • Employment: Growth and changes in work force participation rate in formal and informal sectors; problems and policies.

    • Sustainable Economic Development: Meaning, Effects of Economic Development on Resources and Environment, including global warming.

    Unit 8: Development Experience of India

    • A comparison with neighbours India and Pakistan, India and China.

    • Issues: economic growth, population, sectoral development and other Human Development Indicators.

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